Texas Instruments Matches Q4 Forecasts
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DALLAS (AP) - Texas Instruments Inc. has reported fourth-quarter profit and revenue that matched Wall Street's expectations.
The Dallas-based chipmaker on Monday reported net income of $825 million, or 76 cents a share, for the quarter that ended Dec. 31. That's up from $511 million, or 46 cents a share, a year ago.
Earnings, adjusted for pretax gains and non-recurring gains, were 69 cents per share in the latest quarter. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 69 cents per share.
TI posted revenue of $3.27 billion in the period, which also met Street forecasts and was up from $3.03 billion a year ago.
Texas Instruments for the year reported profit of $2.82 billion. Revenue rose to $13.05 billion.
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